Funding you earn now, next payment 08:00 UTC−0.0241%/8h= −26.4% APRnext payment −$0.30 per $10,000 · paid last 24h −0.061%
Price spread now: Lighter against Phoenix+0.017%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.196%−$20 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$7 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix BABA | 118.22 | 0.0273 | pay 0.0034% / 1h | 3m 18s | $66K | $89K | 10x |
| Short | Lighter BABA | 118.24 | 0.0032 | get 0.0004% / 1h | 3m 18s | $376K | $72K | 10x |
Phoenix BABA
Lighter BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$50.64
- Price spread: +0.017% → 0.000%
- $1.69
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$55.95
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 21 min ago. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Phoenix no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 21 min ago | 9.80 bp | 31.0 bp −$31 | 34.5 bp −$345 | 79.7 bp −$7,975 | doesn't fit |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
BABA on 22 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BABAUSDT | 0.0000% | 8h | 117.98 | −0.202% | $69K | $39K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 118.15 | −0.059% | $2.1M | $706K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 118.15 | −0.059% | $1.5M | $2.0M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 118.13 | −0.076% | $2.4M | $2.0M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 118.15 | −0.059% | $646 | $2.7M | 20x | as long as short |
| Lighter BABAshort | +0.0032% | 1h | 118.24 | +0.017% | $376K | $72K | 10x | |
| Lighter RH BABA | +0.0032% | 1h | 118.16 | −0.051% | $440K | $495K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −2.013% | $11K | $26K | 12x | as long as short |
| Arcus BABA-USD | +0.0040% | 1h | 118.05 | −0.144% | $71K | $136K | 10x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 118.22 | 0.000% | — | $19K | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
Lighter RH BABA
Injective BABA/USDC PERP
Arcus BABA-USD
Vest BABA-USD-PERPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps BABA-USD | +0.0050% | 1h | 118.06 | −0.135% | $8K | $280K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 117.72 | −0.423% | $232K | $400K | 10x | as long as short |
| QFEX BABA-USD | +0.0080% | 1h | 118.12 | −0.085% | $1.2M | $2.8M | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0092% | 1h | 118.06 | −0.135% | $12.1M | $4.6M | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 118.00 | −0.186% | $616K | $443K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 118.08 | −0.118% | $2K | $798 | 10x | as long as short |
| HTX BABA-USDT | +0.0151% | 8h | 118.17 | −0.042% | $30K | $19K | 20x | as long as short |
| Variational Omni BABA | +0.0179% | 8h | 117.93 | −0.249% | $339K | $664K | — | as long as short |
| Extended BABA_24_5-USD | +0.0240% | 1h | 118.08 | −0.119% | $45K | $311K | 10x | as long as short |
| Binance BABAUSDT | +0.0241% | 8h | 118.11 | −0.095% | $15.5M | $31.0M | 20x | as long as short |
| Phoenix BABAlong | +0.0273% | 1h | 118.22 | long leg | $66K | $89K | 10x | |
| GRVT BABA_USDT_Perp | +0.0502% | 8h | 118.22 | −0.003% | $3K | $180K | 10x | as long as short |
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
QFEX BABA-USD
tradeXYZ xyz:BABA
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
HTX BABA-USDT
Variational Omni BABA
Extended BABA_24_5-USD
Binance BABAUSDT
GRVT BABA_USDT_Perp